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Free Life Insurance


As a great free benefit for members, we provide life savings and loan protection insurance as part of a group insurance scheme provided by CUNA Mutual Group Limited, who trade as CMutual.

This is part of a collective arrangement across many UK credit unions, arranged through the Association of British Credit Unions Limited (ABCUL). Members do not pay for these insurances individually and are not able to opt out of them, as they apply to the credit union as a whole. Neither is in any way associated with a Payment Protection Insurance (PPI), and the credit union has never offered any PPI product.

If one of our members dies, please let us know promptly. We will need to see a certified copy of the death certificate and ID for the next of kin in order to begin the process of making a claim on your behalf. Please email admin@pluscu.co.uk.

Life Savings Insurance

If one of our members dies, the policy can pay the nominated beneficiary an amount up to the amount of the deceased’s savings, with a maximum of £1,000. This protection provides vital free life insurance to assist bereaved families with end of life expenses, and is often a welcome extra that that the family wasn’t aware of. We subscribe to insurance based on the age of the member when savings were deposited. This applies to savings deposited up to age 70, providing that the balance has not subsequently been reduced and subject to the full policy terms and conditions. Life Savings insurance applies to all types of savings for adult members, but not to prepaid or Engage current account balances. The amount of cover reduces on deposits made after the age of 55.

Loan Protection Insurance

Credit union loan protection insurance is designed to provide borrowers and their families with peace of mind by ensuring that the debt dies with the debtor, subject to policy limits. We subscribe to cover loans up to £5,000 for borrowers aged less than 80 years old. This extended cover allows older people to borrow safely where they can afford to do so. Loan protection insurance does have limits where members are suffering from life-threatening health conditions, but still provides cover against other causes of death. It is important that members completing a loan application tell us if they are not in good health, as all insurances require honest disclosure and fair presentation in order to secure the benefits provided.

Insurances provided for the credit union

We also maintain a number of insurances required by law to protect the interests of credit union members as a whole, and credit union officers, staff and members of the public.


You can find our branches in Bromley, Sydenham, Lewisham, Catford and New Cross. We're here to help, with Savings, Loans and Current Accounts for you

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Lewisham + Bromley Credit Union


Lewisham + Bromley Credit Union Limited is a member of the Financial Services Compensation Scheme (FSCS), complies with the Data Protection Act 1998 and is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Firm reference number 213588. Credit Union Registration Number 295C (IP00295C at Companies House).

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